When Monopolies Exist Because Economies of Scale Prevail Over the Entire

question 128

Multiple Choice

When monopolies exist because economies of scale prevail over the entire range of demand:

• A) they will charge prices too low to achieve the efficient level of output.
• B) even then, economists insist that they do not serve a useful role.
• C) economists suggest that we may want to regulate their production and pricing, but we may not want to give up their cost advantages.
• D) ATC is likely to exceed price.

Know how to create custom functions in Access using modules.

Identify the conventions for naming and organizing code in Access.

Understand the difference between class modules and standard modules.

Learn how to write and utilize VBA functions with parameters.

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Definitions:

Economic

Pertaining to the production, distribution, and use of income, wealth, and commodities.

Primary Role

Refers to the main or most important function or responsibility that an individual, system, or entity has.

Business

A business or corporate body involved in trade, manufacturing, or professional services.

Virtue Ethics

Virtue ethics focuses on the moral character of an individual as the key element of ethical thinking, rather than rules about the acts themselves or their consequences.